Tuesday, September 18, 2012

Wind Power Bad for the Economy?

A gem today from our friends on the right wing:
Officials are also expressing concerns about wind power’s role in the Texas electric grid. Wind accounted for 8.7 percent of the grid’s energy for the first eight months of this year. But some officials recently complained that the turbines bring down wholesale electricity prices because their fuel — wind — is free, and the production tax credit reduces the price further, so sometimes it is even negative. As the theory goes, this cheap energy cuts into the profitability of companies that operate natural gas- or coal-fired power plants, making them disinclined to build new plants, which are needed to keep the lights on.  
So first they try to discredit alternative energy as unviable (remember, Mitt can't operate his car with a wind turbine on top of it).  Then when it is demonstrated that it actually works, and in a big way, the true reason for their opposition - it will hurt the oil and fossil fuel companies that line their pockets.

Who cares about slowing global warming, energy independence or just simple clean energy when the profits of oil baron's might be at stake!

References: 1) KATE GALBRAITH. 13-Sep-2012. An Expiring Tax Credit Threatens the Wind Power Industry. Texas Tribune/New York Times